The U.S. Department of Commerce's Bureau of Industry and Security ("BIS") recently released two rules to update export controls on advanced semiconductors, semiconductor development and production, and items that support...more
In a coordinated announcement, federal agencies stress the benefits of voluntarily disclosing potential trade violations while emphasizing increased enforcement....more
8/22/2023
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bureau of Industry and Security (BIS) ,
CFIUS ,
Economic Sanctions ,
Export Controls ,
FinCEN ,
Foreign Agents Registration Act (FARA) ,
National Security ,
Non-Prosecution Agreements ,
Office of Foreign Assets Control (OFAC) ,
U.S. Commerce Department ,
U.S. Treasury ,
Voluntary Disclosure ,
Whistleblowers ,
White Collar Crimes
The Biden administration has issued a long-anticipated executive order targeting U.S. outbound investment in certain Chinese industries; however, significant steps remain before these measures are fully implemented....more
8/22/2023
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Biden Administration ,
China ,
Comment Period ,
Executive Orders ,
Final Rules ,
Foreign Investment ,
National Security ,
Outbound Transactions ,
Popular ,
U.S. Treasury
In 2022, anti-money laundering ("AML") and sanctions controls were at the center of regulatory and enforcement activities in the United States and abroad. Globally, governments have continued to recognize the impact of AML...more
On 2 December 2022, the European Commission proposed a new Directive aiming to unify the approach taken by its Member States to enforce European Union ("EU") sanctions and criminalize their violations (the "proposal")....more
The Committee on Foreign Investment in the United States ("CFIUS") has released its first-ever enforcement and penalty guidelines—putting industry on notice and inviting self-disclosures....more
In Short -
The Situation: On October 7, 2022, the U.S. government announced new regulations aimed at restricting China's ability to manufacture advanced semiconductors, obtain advanced computing chips, and develop and...more
As a response to the Russian invasion of Ukraine starting in late February 2022, Australia, the European Union, Japan, the United Kingdom, the United States, and many other countries have progressively imposed increasingly...more
The Office of the United States Trade Representative ("USTR") is seeking comments on the possible reinstatement of Section 301 tariff exclusions on 549 Chinese-origin products. The Office of the United States Trade...more
10/29/2021
/ China ,
Comment Period ,
Exclusions ,
Imports ,
International Harmonization ,
Section 301 ,
Supply Chain ,
Tariffs ,
Trade Relations ,
US Trade Policies ,
USTR
Regulations will mandate more robust customer identity verification procedures and special measures to combat malicious cyber activities.
On September 24, 2021, the Department of Commerce ("Commerce") published an Advance...more
The U.S. Treasury Department has issued an updated ransomware advisory that highlights sanctions risks associated with ransomware payments and details proactive steps companies can take to mitigate these risks....more
The Situation: As part of a series of recent executive actions regarding the People's Republic of China ("PRC"), President Biden issued a new executive order on June 3, 2021—Executive Order 14032—that refines novel sanctions...more
6/30/2021
/ Biden Administration ,
China ,
Defense Sector ,
Executive Orders ,
Foreign Policy ,
Foreign Relations ,
Investment ,
National Security ,
Prohibited Transactions ,
Securities Transactions ,
Supply Chain
President Biden's Executive Orders on China underscore the need for experienced counsel in U.S.-China transactions as the two countries' relations continue to impact the regulatory landscape. On June 9, 2021, President Biden...more
6/30/2021
/ Biden Administration ,
Blocking Statutes ,
China ,
Executive Orders ,
Foreign Adversaries ,
Foreign Policy ,
Foreign Relations ,
Mobile Apps ,
National Security ,
Software ,
Supply Chain ,
TikTok ,
Trade Retaliation ,
US Trade Policies
The Development: China's National People's Congress passed the Anti-foreign Sanctions Law (the "Anti-Sanctions Law") on June 10, 2021, which took effect immediately. The legislation was adopted by China in response to certain...more
The risk of detention or seizure of products imported into the United States warrants renewed attention to responsible business practices on forced labor risk in global supply chains.
United States Customs and Border...more
The Situation: On April 15, 2021, the United States issued a new executive order and related directive imposing additional sanctions on Russia that target dealings in Russian sovereign debt, the technology and defense sectors...more
The U.S. Department of the Treasury has removed the United Arab Emirates from its latest "List of Countries Requiring Cooperation With an International Boycott," easing certain tax reporting requirements.
On April 8, 2021,...more
The U.S. Department of Commerce’s Bureau of Industry and Security ("BIS") recently revised the Export Administration Regulations ("EAR") to, among other things, modify reporting and self-classification requirements for...more
Renewed government focus on imported products made with forced or indentured labor warrants attention to global supply chains best practices.
On March 29, 2021, United States Customs and Border Protection ("CBP") announced...more
The Situation: Later this month, transactions in the information and communication technology and services ("ICTS") sector that involve designated "foreign adversaries" will be subject to review by the U.S. Department of...more
The U.S. Court of International Trade's ("CIT") decision calls into question the application of the "First Sale" rule to goods imported from China.
The CIT in Meyer Corporation, U.S. vs. United States weighed in on the...more
The Bureau of Industry and Security ("BIS") has established a "Military End-User" List ("MEU List"), adding an initial tranche of Chinese and Russian entities to the list.
On December 23, 2020, BIS issued a final rule...more
As part of the U.S. government response, the Department of the Treasury imposes sanctions on certain Burmese persons, and the Department of Commerce heightens export restrictions relating to Burma.
In response to the...more
The Kleptocracy Asset Recovery Rewards Act ("KARRA") authorizes a U.S. Treasury Department ("Treasury") pilot program aimed at rewarding whistleblowers who provide information leading to the restraint, seizure, forfeiture, or...more
The Situation: The United States federal government—including Congress, the Department of Labor, the Department of Homeland Security, and the Department of the Treasury—continues to ramp up efforts to address reports of...more